American International Group Inc. reduced its position in Macy’s Inc (NYSE:M) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,527,980 shares of the company’s stock after selling 352,526 shares during the quarter. Macy’s comprises approximately 2.0% of American International Group Inc.’s portfolio, making the stock its 3rd biggest position. American International Group Inc. owned approximately 0.06% of Macy’s worth $608,747,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its position in Macy’s by 1.6% in the third quarter. BlackRock Inc. now owns 28,532,647 shares of the company’s stock worth $990,939,000 after acquiring an additional 460,868 shares in the last quarter. Bank of New York Mellon Corp raised its position in Macy’s by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 9,827,606 shares of the company’s stock worth $367,847,000 after acquiring an additional 25,971 shares in the last quarter. FMR LLC raised its position in Macy’s by 2.1% in the second quarter. FMR LLC now owns 7,740,157 shares of the company’s stock worth $289,715,000 after acquiring an additional 162,184 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Macy’s by 20.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 4,900,221 shares of the company’s stock worth $170,185,000 after acquiring an additional 820,168 shares in the last quarter. Finally, Northern Trust Corp raised its position in Macy’s by 5.5% in the second quarter. Northern Trust Corp now owns 4,576,899 shares of the company’s stock worth $171,314,000 after acquiring an additional 238,683 shares in the last quarter. 90.78% of the stock is owned by institutional investors and hedge funds.

Macy’s stock opened at $31.95 on Wednesday. The stock has a market cap of $10.22 billion, a P/E ratio of 8.47, a P/E/G ratio of 0.96 and a beta of 0.62. Macy’s Inc has a 52 week low of $20.31 and a 52 week high of $41.99. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.35 and a quick ratio of 0.24.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, November 14th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. As a group, sell-side analysts forecast that Macy’s Inc will post 4.09 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Friday, December 14th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Thursday, December 13th. Macy’s’s dividend payout ratio is presently 40.05%.

In other Macy’s news, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $36.05, for a total value of $1,034,058.20. Following the sale, the president now directly owns 54,722 shares of the company’s stock, valued at approximately $1,972,728.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Harry A. Lawton III sold 200,000 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $33.09, for a total value of $6,618,000.00. Following the completion of the sale, the president now directly owns 226,038 shares in the company, valued at $7,479,597.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 233,312 shares of company stock valued at $7,817,972. 2.36% of the stock is currently owned by company insiders.

A number of research analysts have recently weighed in on M shares. Cowen raised their price target on Macy’s from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, August 16th. Zacks Investment Research upgraded Macy’s from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Wednesday, October 3rd. Goldman Sachs Group started coverage on Macy’s in a research report on Monday, September 3rd. They issued a “sell” rating and a $33.00 price target for the company. Deutsche Bank raised their price target on Macy’s from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Thursday, August 16th. Finally, ValuEngine cut Macy’s from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Macy’s currently has an average rating of “Hold” and a consensus target price of $34.91.

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Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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Institutional Ownership by Quarter for Macy`s (NYSE:M)

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